Almost a third of South African dollar millionaires hold an LLB - while only 5% studied IT

Business Insider SA
  • Almost half of South Africa's dollar millionaires hold the title of "director", a new report from AfrAsia Bank found.
  • Some 28% of South Africans with a net wealth of more than $1 million have an LLB law degree. 
  • Most dollar millionaires studied at the University of Witwatersrand.
  • For more stories, go to Business Insider SA.

The annual South African Wealth Report, commissioned by AfrAsia Bank, shows that 28% of South African dollar millionaires studied law.

This is followed by finance graduates (19%), chartered accountants (10%), medicine (7%) and IT (5%). 

The report shows that there are 39,000 South Africans, with net assets of $1 million (R14.3 million) or more. Some 2,000 have net assets of more than $10 million, while 94 have $100 million in net assets.

Almost half of South Africa’s dollar millionaires have the title of “director”, the study shows:

Almost 70% of dollar millionaires only have an under-graduate degree:

Some 20% of the dollar millionaires attended University of the Witwatersrand, followed by University of Cape Town (19%) and Stellenbosch University (12%).

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